News
Audit scolds Bank of Canada
Internal auditors have criticised the Bank of Canada for slack financial practices, according to a report by the Canadian Press.
Chicago Fed National Activity Index, Nov 2004
The Chicago Fed National Activity Index (CFNAI) for November 2004 was +0.12, down markedly from +0.49 in October. Three of the four broad categories of indicators that comprise the index made small positive contributions, while the employment-related…
PBOC pledges to work on yuan reform
The People's Bank of China said on Tuesday 4 January that it plans to move forward with currency reform in 2005, but repeated its long-time pledge to keep the yuan stable.
Weak dollar cuts Bundesbank profits
The appreciation of the euro against the dollar may have reduced the German central bank's 2004 profit down to nothing, Handelsblatt newspaper reported.
G8 plan Asia debt relief
The world's richest nations are likely to agree to freeze debt repayments for nations devastated by the Indian Ocean tsunami, according to Britain's treasury chief Gordon Brown.
Guynn to vote as an alternate on FOMC
The U.S. Federal Reserve has said Federal Reserve Bank of Atlanta President Jack Guynn will vote as an alternate on the Open Market Committee in 2005.
Chavez calls for BCV president's resignation
Venezuelan president Hugo Chavez called on Diego Castellanos, president of the country's central bank, to step down from his post as the row over the distribution of the central bank's reserves continues.
Hungary passes amendments to central bank law
Hungary's president has signed into force a controversial set of amendments to the law governing the country's central bank, which gives the prime minister the ability to appoint a majority of the bank's monetary board.
Slovakia leaves rate unchanged
The Slovakian central bank maintained interest rates on Tuesday 21 December, as was widely expected by markets.
BoE Inflation attitudes survey
The Bank of England's latest inflation attitudes survey reveals expectatsions hovering about 2.4% (compared to 2.3% in the August survey).
Fund: Pakistan on course, but inflation a worry
The IMF has released details of its recent article IV surveillance of Pakistan.
FRC issues new regulation strategy
The Financial Reporting Council, the UK's unified, independent regulator for corporate reporting and governance, announced its intention to become more pro-active in its enforcement of accounting standards, in a strategy plan issued on Tuesday 21…
Bundesbank holds back on gold sales
The Bundesbank announced on Monday 20 December that it would not be exercising an option to sell 120 tonnes of its gold reserves. This followed earlier speculation that it was under pressure from the German government, who wanted to use gold sales to…
Zimbabwe closes seventh troubled bank
Zimbabwe's central bank shut commercial bank CFX over the weekend, bringing the total number of closures in 2004 to seven, as problems in the country's financial system continue.
ECB starts publishing administrative decisions
The ECB published details of operational decisions taken by the governing council for the first time on 17 December, in a move towards greater transparency.
US forgives $4.1 billion of Iraqi debt
The US concluded a bilateral agreement on Friday 17 December to write off debts of $4.1 billion owed to it by Iraq, and expressed the hope that other countries would follow its example.
Interest rate round-up
A number of central banks adjusted their interest rates in the last week, some in line with market expectations and others providing a surprise.
Japanese experts comment on dollar prospects
Three Japanese experts gave their views on the dollar yen exchange rate and the prospect of central bank intervention at a panel discussion on December 17. The dollar has further to fall, they suggested, but Asian central banks will not liquidate their…
FOMC Minutes, 10 November
Minutes from the Federal Reserve's 10 November FOMC meeting released on 16 December revealed that policy makers wrestled with the best way to foreshadow the course of short-term interest rates.
New distribution of work at Sveriges Riksbank
On 14 December the Executive Board of the Riksbank decided to implement a number of changes in the Board's distribution of work. The decision is part of a process of change that, among other things, aims to clarify the responsibilities between the…
Slovak gov't to nominate Barto NBS vice-governor
Martin Barto, currently a board member of the National Bank of Slovakia (NBS), is to be nominated by the Slovak government to serve as the central bank's vice-governor, according to Finance Ministry spokesman Peter Papanek.
Unions to oppose Bank of France agreement
Four unions which represent 72 per cent of staff at the Bank of France have said they will oppose an employment agreement signed by managers and minority unions, Le Monde reported.
Brazil urges charges against former central banker
A congressional report published on Tuesday 14 December recommended that Brazil's former central bank president Gustavo Franco and others be indicted on money laundering charges.
Denmark's Andersen to step down Oct 2005
The governor of Denmark's central bank, Bodil Nyboe Andersen, has informed the government that she wishes to retire in October, 2005, when she turns 65.